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Yeah. But you don't see anyone buying them do you? (archive)

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Posted by Jim on May 12, 2001 at 14:48:03:

In Reply to: Re: Maybe..but posted by Philip on May 11, 2001 at 16:39:19:


From what I hear, dealers like Stevens Creek BMW are doing this. They buy used M5's and resell them at 70K plus. AT this price range people feel safer buying it from a dealer (and dealers offer financing options), so you and I will have a harder time selling it.

Yes, CISCO and others are way down, but my stocks are good. Not everyone put their money into growth stocks with silly PE ratios. The government just released the latest numbers on new and used auto sales, and their surprisingly up. Also, consumer confidence and retail sales are up. I dn't think it's time to runout and buy an expensive car, but several others obviously do.


No dounbt that the California market is "hotter". But here's a question... if an M5 car "..would sell quickly.." in California, then it would "pay" to buy the M5 and ship it to California. and SELL IT w/ a couple $$K in profit.

My guess is that is NOT the case today(otherwise, someone like you and I would've done so already). 4 to 5 moths ago it would've been easy (I would've bought it for $65 in January, but I believe Steve was thinking of "not less than " $70,000 back then).. but no longer. Fact is, times have changed and CSCO (and other tech stocks) is worth half of what it was then. So are luxury items (such as an M5, Porsche Boxter, etc.)

Just my opinion,

beewang


I have found that the M3 and M5 are only WOW cars to people that have read about them and love performance cars (like the people we associate with). And a lot of those people seem to be more WOWed by a 400hp V8. My Z3 turns more heads than my M5, or an M3 could ever do. It's more of a "general public" WOW car, like the Z8 and NSX. So don't be disappointed if people aren't WOWed by your car. To them it's probably just another 3 series (like the M5 is another 540).

Steve's car would sell quickly in California. Steve, how about running an add in the Bay Area Mercury? Or L.A. paper?






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